Dukeries Aviation gets lift off
AN AIRCRAFT engineering company which was affected by gale force winds has received funding to help get it back off the ground.
Dukeries Aviation, based at Netherthorpe Airfield, near Rotherham, has received a £30,000 loan from South Yorkshire Investment Fund (SYIF) to help re-build an aircraft hanger and workshop which had been damaged.
The winds, last January, had completely lifted off the hanger's roof and damaged the structure of the building, forcing it to be replaced.
David Bonsall, managing director of Dukeries Aviation, which repairs and maintains aircraft for people all over the country, said the hanger would be open for use at the start of the new year.
Mr Bonsall, who started the company in 1968, and now runs it with his brother and co-director Mark, said: "The winds on the airfield had reached approximately 105 knots and relocated the roof of the hanger.
"We were able to get money from the insurance and our own investment, but we needed an extra amount of funding to complete the project."
He added that the hanger will house all its equipment, including a new workshop area, and will be able to accommodate up to three aircraft.
Dukeries Aviation also provides flying and aviation tuition through its Phoenix Flying school.
Karl Hodson, investment director at SYIF, said: "We were pleased to come to the aid of Dukeries Aviation in their time of need.
"In rebuilding the hanger they have been able to grow the business further by housing a new workshop area and more aircraft then before the damage."
Dukeries Aviation was introduced to SYIF by Alan Scott at Business Link South Yorkshire, who helped Dukeries with the loan application, business plan and financial forecasts.
SYIF can provide seedcorn, loan and equity linked investments, ranging from £15,000 to £2.5m, specifically to help small and medium businesses meet the gaps in funding they need for growth and development.
Created as part of the Objective 1 programme, the fund is a private and public sector business finance provider. The European Regional Development Fund and Yorkshire Forward are investors in the fund.
SYIF also provides access to business angel investments from the Yorkshire Association of Business Angels.
